The 12 easiest and cheapest countries for gaining European Union residency

Most countries in the world offer a deal offering fast-tracked residency permits and, ultimately, citizenship in return for investments in local businesses and property.

With the UK voting to leave the European Union, it is becoming more attractive for wealthy Brits to look elsewhere for access to the European single market and the freedom of movement to travel and work across the 28-nation trading bloc.

A study by citizenship consultancy firm Henley and Partners analysed the programmes offered by different governments across the world, ranking them by value, quality and reputation among other metrics.

Here are the EU countries that performed the best for cheap and easy access to residency.

8. Jersey — The island of Jersey is attractive for its low tax regime and mild climate. The minimum investment for residency costs £125,000 a year and is only open to those earning more than £625,000.

7. United Kingdom — The UK might not be cheap but it is an attractive destination for rich families looking for good private schooling. The residency programme is tiered, asking for £2 million, £5 million and £10 million from investors.

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6. Latvia — To obtain a Latvian temporary residence permit, one has to buy real estate worth €250,000 and pay a 5% government fee.